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To: waverider who wrote (730)5/24/2000 7:11:00 PM
From: Poet  Respond to of 10876
 
Hi Rick,

i'm no tax whiz, but my understanding is that if you sell an issue, then purchase the same issue or any option on that issue, within 30 days, the wash sale does apply and you cannot claim the initial loss to the IRS. Maybe someone else here knows differently.

You picked a great day to buy LEAPs, my friend! I think QCOM had a nice blow-off bottom today. I bought some common and some calls, and I know others here did too. A great opportunity not to be missed. <G>



To: waverider who wrote (730)5/24/2000 7:46:00 PM
From: Hobie1Kenobe  Read Replies (1) | Respond to of 10876
 
Rick,
My understanding is that if you didn't purchase the same month of the same year, you should be clear of the wash sale rule. I'm no expert, but hope this helps.
JF3



To: waverider who wrote (730)5/24/2000 10:03:00 PM
From: RR  Read Replies (1) | Respond to of 10876
 
HI Rick:

Check the following. Maybe that will help.

cboe.com

Rick